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Cushman & Wakefield Advises Sale of 73,000 SF Industrial Facility in Central San Diego for $15.95 Million

Property Fully Leased to Single Tenant SAN DIEGO, Calif., April 18, 2019 – Cushman & Wakefield announced today the firm has advised seller SENTRE, a full service real estate investment and development firm, in the disposition of a 73,000-square-foot industrial facility in Poway (San Diego), California. Located at 13450 Stowe Dr., the facility was acquired by SOCAL Stowe, LLC for $15.95 million. The property is 100% leased to Aldila Composite Materials, a subsidiary of Mitsubishi and a leading designer and manufacturer of composite materials. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey, Brooks Campbell, Zach Harman and Devin Muna of Cushman & Wakefield’s San Diego and Orange County offices represented SENTRE, an acronym for Stewards and ENTrepreneurs of Real Estate, in the transaction. The firm’s Brant Aberg also provided local market advisory. Jim Snyder and Patrick Lacey of Lee & Associates represented the buyer. Bryce Aberg said, “The [...]

2019-04-18T17:29:00-04:00April 18th, 2019|In the News|

San Diego Office Market Starts 2019 in Growth Mode

Plenty of Exciting Things Happening in Region SAN DIEGO, Calif., April 18, 2019 – San Diego’s office market is off to a positive start to 2019 with market fundamentals still very healthy, according to Cushman & Wakefield’s new first quarter of 2019 report. Market highlights included a few hundred thousand square feet of occupancy growth to kick off the year, further rent growth in Class A and B segments, and continued investor demand. Following a modest amount of occupancy loss last quarter to close 2018, the firm had predicted the office sector would quickly step back into growth mode. Jolanta Campion, Cushman & Wakefield’s Research Director in San Diego, said “Tenants absorbed 200,000 of office space on a net basis in the first quarter of 2019. With the exception of last quarter (Q4-2018), every quarter for approximately the last four and a half years (19 quarters) has seen occupancy growth, [...]

2019-04-18T14:44:54-04:00April 18th, 2019|In the News|

Cushman & Wakefield’s Matt Davis Recognized As A 2018 RLI APEX Top 20 National Producer

April 17, 2019 - SAN DIEGO, Calif. – Matt Davis, with Cushman & Wakefield from San Diego, California, has been recognized as an APEX 2018 Top 20 National Producer by the Realtors® Land Institute as a part of the RLI APEX Production Awards Program, sponsored by The Land Report. Mr. Davis was recognized by RLI CEO Aubrie Kobernus, MBA, RCE, as well as The Land Report’s Co-founders Eddie Lee Rider Jr. and Eric O’Keefe at a special awards ceremony on Tuesday, March 5, during RLI’s 2019 National Land Conference (NLC19) in Albuquerque, NM. “It is a real honor to be recognized by Realtors Land Institute and The Land Report as a National Top 20 Producer, and also very humbling to be recognized together with so many great colleagues from across the country,” said Matt upon receiving the award. “We are proud of Matt and all of our members that were [...]

2019-04-17T12:21:03-04:00April 17th, 2019|In the News|

Cushman & Wakefield Adds Weston Yahn to North San Diego Team

Experienced Professional Adds Depth to Firm's Talented North County Roster SAN DIEGO, Calif., April 4, 2019 – Cushman & Wakefield announced today that Weston Yahn has joined the firm’s brokerage services in San Diego. Mr. Yahn will be based in Cushman & Wakefield’s Carlsbad office, where he will specialize in R&D and industrial leasing and sales in San Diego’s North County. “Weston is a great addition to our robust brokerage team in San Diego, and his service-first approach, determination and work ethic aligns perfectly with our goals of delivering the most top notch, responsive client services,” said Larry Cambra, Cushman & Wakefield San Diego’s Market Director of Brokerage. “North County remains a thriving community with strong market fundamentals. Weston’s prior experience and expertise together with his drive and passion will be a valuable asset in enhancing our tenant and investment business in this sought-after market.” Mr. Yahn comes to Cushman [...]

2019-04-17T12:22:38-04:00April 9th, 2019|In the News|

Investor Acquires 80,700 SF Class A Office Building in Carlsbad for $17.6 Million

Cushman & Wakefield Represents Seller in Disposition of Highly Stable Asset SAN DIEGO, Calif., March 28, 2019 – Cushman & Wakefield announced today the firm has brokered the sale of an 80,659 square foot multi-story Class A office building in Carlsbad (North San Diego), California. The buyer was Zoe Office Center, LLC, which acquired the multi-tenant asset located at 2888 Loker Avenue East for $17.6 million. The seller was Global Carlsbad I, LLC. Aric Starck of Cushman & Wakefield’s San Diego office joined by Ron Jacobson of SD Realty Partners represented the seller in the transaction. Starck, Executive Managing Director, said, “2888 Loker Avenue East presented a highly stable investment opportunity of a 99% leased Class A building—with over 70 tenants—that has enjoyed great historical occupancy due to its position in a thriving area with strong market demand for small office suites together with a strategic and amenity rich location.” [...]

2019-03-28T14:10:04-04:00March 28th, 2019|In the News|

Cushman & Wakefield Team Advises $16.1 Million Medical Portfolio Sale in Arizona

Demand for Quality Medical Investments at All-Time High PHOENIX/SAN DIEGO, March 28, 2019 – Cushman & Wakefield announced today a 39,305-square-foot (sf) portfolio consisting of three medical office buildings in the cities of Chandler and Gilbert, Arizona has sold for $16,100,000 ($410 PSF). The buyer was Global Medical REIT of Bethesda, Maryland. Cushman & Wakefield represented the anchor tenant and seller in the transaction, a local gastroenterology practice that will continue to operate out of the properties under a long-term sale/leaseback arrangement. The portfolio also included two endoscopy centers, one of which is owned and operated by a joint venture between local physicians, Dignity Health and national surgery center operator United Surgical Partners Inc (USPI). Devpal Gupta and Peter Menna of Cushman & Wakefield’s Phoenix office collaborated with Travis Ives of the firm’s national Healthcare Capital Markets Team to represent the seller on the assignment. This marked the trio’s second [...]

2019-03-28T12:11:21-04:00March 28th, 2019|In the News|

RAF Pacifica Group Acquires Five Creative and Value-Add Properties In Coastal Carlsbad for $59.6 Million

Carlsbad CA—  RAF Pacifica Group (RPG), a San Diego-based owner, operator, and developer of high-quality commercial real estate, has added to its portfolio of creative and value-add assets in Northern San Diego County with the acquisition of five properties totaling six buildings in the Carlsbad, California, market. RPG purchased the properties, comprising one two-building creative-office campus, three creative-industrial buildings, and one value-add industrial building, for a total consideration of $59.6 million. “As these five acquisitions demonstrate, we have been extremely active in the Carlsbad market,” says Adam Robinson, President of RPG. “The properties align perfectly with our firm’s strategy of owning well-located, modern, creative and value-add assets in North County. Carlsbad attracts a tenant mix consisting largely of biotech, cleantech, communications, and action-sports companies, and we are in an ideal position to meet their real estate needs with these properties.” 6305 El Camino Real RPG acquired a 67,528 square-foot, value-add single-tenant industrial [...]

2019-03-27T15:26:22-04:00March 26th, 2019|In the News|

Lennar Acquires 41.5-Acre Site in San Diego for Development of New Community, Pacific Village

SAN DIEGO, Calif., March 21, 2019 – Cushman & Wakefield announced today that Lennar Corporation has acquired a 41.5-acre property in San Diego, California for the proposed development of a new 601-home residential community known as Pacific Village. The property is situated in Rancho Penasquitos, a suburban neighborhood at the southern end of North County. The seller was Atlantic Pacific Companies. Cushman & Wakefield’s Kevin Nolen, Tim Winslow and Jason Kimmel, who specialize in land and multifamily property in San Diego, represented Lennar. Pacific Village is a partnership between Lennar Homes and Atlantic Pacific Companies, two respected names in housing with long track records for delivering high-quality communities. The multi-phase development is anticipated for completion in 2020. “Pacific Village will create home ownership opportunities for everyday San Diegans, while delivering a number of benefits to the community,” said Kevin Nolen, Director. “This new community will allow residents to own homes [...]

2019-03-21T12:30:26-04:00March 21st, 2019|In the News|

3Q Digital Marketing Agency Expands to Class A Office in Downtown San Diego’s East Village

Photo Courtesy of CoStar SAN DIEGO, Calif., March 4, 2019 – Cushman & Wakefield announced today that 3Q Digital, Inc., the largest independent digital marketing agency, will be relocating and expanding their San Diego office to DiamondView East Village in downtown. 3Q Digital leased 11,322 square feet on the seventh floor of the 15-story Class A tower located at 350 Tenth Avenue in downtown’s East Village community. The agency is moving just a few blocks from their current location along 5th Avenue in the Gaslamp Quarter. Kevin Meissner with Cushman & Wakefield’s San Diego office represented the tenant in the transaction. Meissner, said, “The priorities for 3Q Digital’s new downtown office were to create an environment and culture for them to be able to recruit and retain the best talent in the marketing industry.” He added, “Their new space provides unobstructed views of Petco Park from their private [...]

2019-03-04T13:07:48-04:00March 4th, 2019|In the News|

RAF Pacifica Adds Two High Quality Assets to North San Diego Portfolio: Avenida Crossing and 1905 Aston

SAN DIEGO, Calif., March 1, 2019 – Cushman & Wakefield announced today the firm has advised the seller(s) in the dispositions of two high quality assets in Carlsbad (North San Diego), California for a combined value of $36.3 million. The buyer of both assets was RAF Pacifica Group. The separate sales consisted of Avenida Crossing, a newly renovated 68,392-square-foot creative office campus, and 1905 Aston, a 48,818 square-foot industrial R&D and corporate headquarters facility. Avenida Crossing was sold by Avenida Encinas, LP for $23.9 million and 1905 Aston was sold by A&M CapRE Aston, LLC for $12.4 million. Aric Starck, Executive Managing Director with Cushman & Wakefield’s San Diego office represented both sellers in the transactions. Starck said, “Avenida Crossing and 1905 Aston represent two contemporary properties in San Diego’s most vibrant submarket, Carlsbad.” He added, “Each recently undergoing significant improvements, these properties are well positioned to see continued success [...]

2019-03-01T12:07:59-04:00March 1st, 2019|In the News|